This question was created from Quiz Solution_Chapter11 https://www.coursehero.com/file/9874794/Quiz-Solution-Chapter11/
Looking for The graph shows Avalon's ATC curve in the short run. In the short run, Avalon produces 250 muffins a day. Draw a point to indicate Avalon's average total cost in the short run. Label it 1. In the long run, Avalon moves to a larger space and experiences economies of scale. Draw the new ATC curve if Avalon produces 500 muffins a day in the long run. Draw this curve to show the new average total cost at the original 250 muffins a day. Label the curve. Draw a point to indicate Avalon's average total cost in the long run. Label it 2.
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